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20121101
20121130
Search Results 0 to 15 of about 16 (some duplicates have been removed)
's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it
i'm steve kroft. thanks for joining us. [ticking] [ticking] >> in a nondescript t-shirt at a nondescript desk, mark zuckerberg runs a vast global empire, leading the whole internet in his direction. is the goal for you to conquer the whole internet? to own the internet? >> well, think about it like this. people--if they can use a product of any category--photos, music, tv, anything--either by themselves or with their friends... >> mm-hmm. >> i think most of the time, people want to do those things with their friends, so-- >> so is the answer "yes"? [ticking] you describe bill gates in very harsh terms. um, you've described him as being quite abusive. i mean, it's not a pretty picture. >> and i felt like when i wrote it, i should just tell it like it happened, in an unvarnished way, warts and all. >> you'll hear how the two high school buddies who started microsoft and a computer revolution had some pretty trying times along the way. do you think he came to think that you weren't working as hard as he was and it became a source of resentment with him? >> well, i thi
army had been stolen from the ministry of defense by the very people the u.s. entrusted to run it. >> that's a lot of money. >> it's one of the biggest thefts in history, i think. >> most of the iraqi officials involved, including the former minister of defense, have skipped the country, but we found one of his deputies vacationing in paris. if you went back to baghdad, you'd be arrested. >> uh, no. nobody will arrest me. they will kill me. [ticking] [camera shutter snaps] >> these surveillance photos were taken by undercover police officers while they watched a team of seven south american thieves clean out an old navy store. >> shirts at $22.50, and they got the whole rack. >> when police moved in to make the arrest, they found enough merchandise to fill a room. all taken in less than an hour without anyone inside the store noticing a thing. [ticking] >> we have never seen a problem of this size and magnitude in world history. >> now hang on. in world history. >> there's more counterfeiting going on in china now than we've ever seen anywhere. >> name an american brand. any brand
-fired power plants generating electricity in the u.s., and those plants produce 130 million tons of waste called coal ash. it contains concentrations of mercury, arsenic, lead, and other toxic materials. and as lesley stahl first reported in 2009, when coal ash is dumped into wet ponds--and there are more than 500 of those across the country-- the result can have an enormous health risk on the people living in nearby communities. >> we get about 48%, nearly half of the electricity in this country from coal. >> jim roewer is one of the top lobbyists for the power industry. >> coal is going to be around for a long time. >> and we really can't get rid of coal. >> we shouldn't get rid of coal. >> well, should or shouldn't, we can't, and coal makes waste. would you say that the industry has done a good job of disposing of the coal ash waste? >> we can do better. >> does that mean no? >> well, we had a kingston spill. >> that's kingston, tennessee, where, in december 2008, a giant retention pool of coal ash buckled under the weight of five decades of waste. >> all the power lines have been knoc
were using phony legal documents to throw people out of their homes. chris pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be traced back to something called "credit default swaps." they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. >> meredith whitney was talking back in 2010 about a then- looming financial crisis involving state and local governments across the country. it was a debt crisis which some people believe could derail
. >> got five minutes for us today? >> um... [ticking] >> we wondered how the man who could whistle up a corporate jet on a whim... >> let's rock. >> or throw a $2 million birthday party was doing in his reduced circumstances. what's it like to go from king of the world to prisoner number 05a-4820 serving 8 to 25 years behind bars? >> in my wildest imagination, when i would project myself into my late 50s and early 60s, where i would be or what i would be doing, if i make a list of 100 different places or 100 different things, here would never make that list. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we look at stories of crime, punishment, and what money can buy. first, the high-stakes world of japanese organized crime, where big dollars saved the life of an infamous gangster. then we investigate how best-selling author and philanthropist greg mortenson used some of the assets of his multimillion-dollar charity. and finally, we talk to dennis kozlowski, the former ceo who once made headlines for illegal corporate excess. we begin with the yakuza, japan's not
i'm steve kroft. thanks for joining us. [ticking] [ticking] >> it is the mark of the yakuza: ornate, full-body tattoos that cover the members of the japanese mob. so how did one of their most notorious godfathers get into america and jump to the front of a line for a lifesaving liver transplant? this reporter found out and says it may cost him his life. >> as he was leaving and getting in his car, he said, "that"-- you know, "that--that goddamn american jew reporter. i want to kill him." [ticking] >> greg mortenson's book three cups of tea is a publishing phenomenon that has made him a celebrity, a cult-like figure on the lecture circuit, and inspired people to give nearly $60 million to his charity, and it all began with one simple story. >> it's a beautiful story, and it's a lie. >> we wanted to talk to mortenson about that and some other things, but he didn't want to talk to 60 minutes. >> steve kroft. >> nice to meet you. >> how you doing? >> thanks. >> got five minutes for us today? >> um... [ticking] >> we wondered how the man who could whistle up a corporate jet on a whim...
off for ten days, and let them wait on us to go pick them up to see how it feels to keep waiting? >> i don't think you should keep waiting. i told you you wouldn't have to keep waiting. i can't speak-- >> it's a contradiction of your word, sir. >> i know. there may be-- it won't be the first time. i'm trying. >> feinberg acknowledges he's dealing with a weary and frustrated population who may distrust a hotshot lawyer with a boston accent. >> what these fishermen and others want to see are checks and compensation, not promises from somebody from boston. and that is an obstacle that i try to overcome in part by coming down here and meeting with these people. >> this is, what, your 14th or 15th trip down here? >> i think so. >> do you feel that the tide is somehow turning in your favor, that people say, "okay, let's give him a chance?" >> not yet. >> not yet? >> not yet. >> well, six months of this would be a step in the right direction. >> well, a step in the right direction-- >> not another week of runaround. >> the average for each of the claims that you paid out is $5,000. and that's
to 60 minutes on cnbc. i'm leslie stahl. by most accounts, the financial crash of 2008 pushed the u.s. economy to the brink of collapse. in its aftermath, some of the country's biggest banks received very big bailouts while large numbers of small local banks failed. this edition features a unique inside look at the seizure of a failed bank and a rare interview with one of the men at the center of the 2008 economic crisis and the recovery plan that has followed, the chairman of the board of governors of the federal reserve system, ben bernanke. plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a question that everyone wants me to ask. when does this end? >> it de
us google them. >> we have north america. >> oh, look at that. google cofounder sergey brin is showing us an electronic globe that displays the mountains of google searches happening around the world at any given moment. >> so every little dot represents a certain number of searches, but you can see that there are thousands of searches going on every second. >> looking at the googleplex, company headquarters in silicon valley, it's hard to imagine that just a few years ago the company basically consisted of the russian-born brin and cofounder larry page working in a converted garage. >> our boardroom table was also our ping-pong table, so it had the net and everything. >> inside the googleplex feels more like a college dorm than a corporate office: bikes in the hallways, dogs under the desks, and there's a strong spirit of play. besides all the ping-pong, there's a volleyball game every day at noon. >> this is really where we spend, you know, the overwhelming majority of our time, and so in order to have a good lifestyle, we had to have a good lifestyle at work, which meant
. instead, they did not. instead, they used the market as an excuse for paying themselves. "if we don't pay our employees of goldman sachs huge sums of money, they're gonna leave and go to j.p. morgan." and the j.p. morgan people say, "well, if we don't pay these special people huge sums of money, they're gonna leave and go to goldman sachs." and you kind of want to back away from it and say, "well, wait a minute. why are they so valuable in the first place?" >> did they deserve all that money? >> on wall street, the business has become very obviously divorced from productivity, from productive enterprise. so in that sense, no, they don't deserve it. they didn't earn it. what they did was finagle it. they managed--they were very good at putting themselves in the middle of large financial transactions that probably shouldn't have happened in the first place and taking out little pieces of it. they generated trillions of dollars of subprime mortgage loans that should never have been made. but the world would be better off if that whole industry had never existed. so that's crazy. >> lewis say
Search Results 0 to 15 of about 16 (some duplicates have been removed)